As a busy business owner, people trust your expertise every day. Customers look to you for your knowledgeable advice – it’s what they pay you for. However, should your expert opinion and advice cause harm, you and your company could be in serious financial trouble. It’s called liability and only professional liability insurance can help you pay the costs and legal expenses associated with a claim of negligence brought about by a customer.
Don’t be fooled into believing that you are covered with your general liability policy. General liability policies only protect against bodily injury or property damage claims. When it comes to negligence claims, you need the comprehensive protection offered by a professional insurance policy.
Professional liability insurance is available to professional practitioners such as doctors, lawyers, architects and accountants. Professional liability protects your business from liability surrounding claims of negligence.
In the medical profession liability is known as malpractice or errors and omissions insurance, but liability insurance is the same – it protects business owners from financial ruin if a customer sues for negligence. Lawsuits of this nature focus on a company’s failure to perform certain services as expected or as contracted, misrepresentation (in all forms), and other areas the customer feels they have experienced loss or deceit while doing business with that company. Even if the alleged liability is accidental, your company could be found guilty of negligence and have to pay.
If you’re worried about the cost of liability insurance, you might be pleasantly surprised. Think about it, can you really afford not to have insurance coverage? One court decision in the other person’s favor could mean the loss of your business and possibly your home and other personal assets. The small monthly payment for professional liability insurance is well worth the peace of mind. Call or submit the form below for a free, no-obligation quote.